Letter To The President On The Re-Introduction Of Subsidy

Published
 9 seconds ago 
on
 February 26, 2024

By
 Nigerian Tracker

Dear President Tinubu

Sir,every Nigerian with rudimentary knowledge of economics will agree with you that fuel subsidy has to go, it has stagnate the growth of our economy over the years,benefitting only selected few.
Most Nigerians have no qualms with subsidy removal,its the approach that was used that we have reservation for. There is no doubt that the removal of fuel subsidy had ripple effect on the woof and warp of Nigeria’s economic fabric. The private sector is struggling to keep up with the reality of the moment and civil servants in public sector are financially incapacitated.
Nigeria’s present consumer price index (CPI), stood at almost 30%, this clearly shows a reduction in the citizens purcasing power. Families are finding it difficult to have 2 meals a day; this will have resultant negative effects on the health of the citizens and may reduce manpower ability to contribute to the Nations gross domestic product (GDP).
Nigeria at this point needs to invest massively in agriculture, to make surplus food available to the citizens at an affordable rate. Agriculture is one of the most subsidized sector of most world power’s economy. United States,Russia and China controls the world grains reserve because of the subsidies available for agriculture and other working policies. NIRSAL is a case study of working policy in Nigeria, its a fantastic government programme that was supposed to transform Nigeria’s agriculture by making funds available to real farmers who produce what Nigerians consume daily,but it could not achieve its objective due to the Nigerian factor.

Yes, subsidy is gone in the petroleum industry, but it needs to be re-introduced into agriculture to make funds available for small scale farmers who produce 70% of the food items consumed in Nigeria. Also, there is the need for more regulatory policies in the agrochemical industry to control sub-standard products in the market and possibly provide tax waivers to reduce the market price of these agrochemicals.
Fertilizer is a key component of agricultural production which must be made available to farmers at subsidized rate. The e-wallet template used by Dr. Akinwumi Adesina of African development bank when he was Nigeria’s minister of agriculture is a tested and verified framework for reaching out to small scale farmers.

Insecurity is an integral index in Nigeria’s agricultural sector today, there is the need to improve on the country’s security architecture and a synergy should be put in place betwern the proposed agro-rangers and the various security apparatus ( army,airfoce, police etc). Farmers should be able to go about their business with maximum safety and also a viable solution must be worked out to put a stop to farmers/cattle rearers conflict by establishing a symbiotic relationship between both party.

The twelve River Basin Development Authorities can provide the fulcrum for achieving food security, with thousands of hectares of lands,Dams,Canals and other Irrigation structures in their control for achieving an all year round farming. More funds needs to be funneled into these agencies for revitalization and expansion of existing infrastructures.
Nigeria is presently at a turbulent time in its economic history; making food available to the masses at an affordable rate through subsidized agriculture is necessary to extinguish the embers of looming disquiet in Nigeria.
Ibrahim Baba-Ibrahim writes from Ilorin. ibrahimbabaibrahim@gmail.com
08031163326.
https://nigeriantracker.com/2024/02/26/letter-to-the-president-on-the-re-introduction-of-subsidy/